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Need some advice...
I have a good friend that swears he can make money in currencies by following a program made by Globaltec. It's something like Forexmadeeasy and it costs a couple grand and basically it tells you when to trade at what times etc.
To make my life easier instead of looking into it and reading the forex webpage etc I decided to come here to see what you guys thought about it. He is not a big time guy. He has 20 dimes in his account and each day for the last 3 months he has made around an average of 235 dollars per day. Granted he has spent much time in front of his monitor so his hourly comes out to 23.50 an hour but still, if I were to get involved and study this full time is it worth it or was he just lucky or was he conservative and maybe could have made more?
RE: Need some advice per currencies...
I see a total scam. I came across a guy once who said he had this computer model and it told him when to buy and sell stocks & options. He tried to hard sell me to do it. I told him to call me everytime he wanted me to buy something and at what price.
By the end of the week I would have lost $27, 350. Need I type anymore?
RE:Need some advice per currencies...
I've gotten some mail from the folks at 4xmadeeasy.com
To be honest, I haven't had time to look at it. I'll make a point to visit their
website and look around.
I do know that I kind of like the concept that WIZE TRADE seemed to be using in an
info commercial. It seemed that what they were doing was kind of using time moving
averages, and as the stock rose above one, the signal would turn green(meaning "buy").
If the stock fell below a moving average, the light went red.
So first you would have the 200, followed by the 100, 50, 20,10,5, interday, hour, ect.
One would really have to see the premises which the software is based.
Guess that it would be based on historical triggers which have been determined
Another factor would be time and level of risk involved.
Have always believed that short term trading should be left to those on the floor.
The action short term is fast and furious.
The playing field is much more level for those playing 3 months and out.
Then the action can be measured in days and weeks.
Currencies long term are much easier to trade due to their tendency to have runs
timed in months. This is not to say that they can't have very sharp short term runs.
The US Dollar has been basically trending downward since last 2001.
At some point higher US interest rates should slow or even reverse the long term tend.
Suggest watching all the moving averages and daily trading volume averages.
One can gleam clues by studying worldwide interest rates minus inflation rates
of each country.
Trading is a little bit like surfing, it all about catching the wave right and keeping your
Would be glad to talk about any specific currency.